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Senator Tim Scott’s confident market structure bill

by | Apr 12, 2025 | Crypto | 0 comments

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Tim Scott, chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, recently said he expects to pass a cryptocurrency market bill by August 2025.

The Chairman also noted that the Senate Banking Committee raised the Genius Act, a comprehensive Stablecoin regulatory bill, proof that the committee prioritized crypto policy. Scott said in a statement to Fox News:

“We have to innovate before adjustment – ​​allowing innovation in digital asset space to occur at home is crucial to global U.S. economic dominance.”

Scott’s timeline for the crypto market structure bill is aligned with expectations of Kristin Smith, CEO of the Blockchain Association, crypto industry advocacy group, with the market structure and Stablecoin legislation to pass laws in August.

The Trump administration stressed that comprehensive crypto regulations are at the heart of a plan to protect the value of the dollar and protect the world’s global leaders in digital assets by attracting investments in U.S. crypto companies.

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Senator Tim Scott highlighted the Senate Banking Committee’s goals and achievements in 2025. Source: Fox News

Related: Atkins becomes the next SEC chairman: The next step in the cryptocurrency industry

Supporting comprehensive encryption regulations is two parties

U.S. lawmakers and officials hope to establish a clear crypto policy sometime in 2025 and sign it into law with bipartisan support from Congress.

Democratic representative Ro Khanna said he expects the market structure and Stablecoin bill to pass this year, speaking at the Digital Assets Summit in New York City.

The Democratic lawmaker added that about 70-80 other representatives in the party understand the importance of passing clear digital asset regulations through the United States.

US government, US, stability

Treasury Secretary Scott Bessent, pictured left, Crypto Czar David Sacks, pictured right at the White House Crypto Crypto Summit. source: White House

Khanna stressed that fellow Democrats support the stablecoins of the dollar because of the role of dollar tokens in expanding demand for the dollar through the internet.

Bo Hines, executive director of the President’s Digital Assets Advisory Committee, also spoke at the meeting and predicted that Stablecoin legislation would pass the law within 60 days.

Hines stressed that building our dominance in Washington, D.C. is a broad bipartisan goal.

Magazine: How crypto laws change around the world in 2025